Thursday, July 8, 2010

Market Timing Update (7/8/10 Close)

Chart 1 and Chart 2 offer an update on the top counts. All are on track at the moment :)

For bearish counts (Red and Green in Chart 1), [i]-down or A-down is best to have ended at the 7/1/10 low, making [ii]-up or B-up an expanded flat in the e-mini and a flat in the cash index. After a squiggle high overnight or tomorrow (to end a small degree fifth wave up), that high better holds for these two particular bearish counts.

Otherwise, the bullish counts (Blue and Grey) will send SPX above the 6/21/10 high.

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